Next 3 - 12 months would make or break prr. Positive outcomes which would potential see the sp get close its 10-yr highs & maybe beyond:
1) ODS approval from US FDA - significantly milestone
2) Significant positive update on PIIb/III trials
3) Approval or consideration for CVac approval in jurisdictions other than the US
4) Major re-rating
5) Partnership from big pharmas
Pontential PRR breakers/set backs would be the opposite of above esp. (1) to (3). (1) & (2) would trigger largely be responsible for(4) & (5) to occur.
The risks are currently still high but not as high as say 6 months ago. If, say, 1, (2) & (3) are achieved; risk would significantly be lower than current. This would be reflected in the sp.
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